Investing/Financial Saving as a Trader

Hey WSO,

I've just started a prop trading firm job (reputable firm, eat what you kill, high percentage cut). I had some questions about personal savings/spending.

ASSUMING I am not a complete failure at trading, but still have an irregular salary (for example, 50k one year, 400k the next year, 80k the next), how do I regulate savings/spending? Not really planning to buy a car due to the city I live in, but I am looking to buy an apartment (hopefully) instead of renting as early as I can. I live somewhat frugally, but this is a pretty big concern of mine.

My mentor at the firm I interned at had to buy his home and cars all upfront (because he had no regular income) and I wanted to know if there was a way to avoid this.

Comments (2)

Jul 1, 2018

Elbridge-Eater, have you checked out these or run a search:

  • investment financial modeling I am seeking some advice as to the software to use for developing a financial model that mirror ... assumptions. There may be multiple users of the tool, implying the need to access the tool perhaps as ...
  • pre-made discounted cash flow model service Banking investing financial modeling ... flow models. These DCFs could be downloaded and used as analysis tools for investors. I came up with ... potentially save people a lot of time. These DCF analyzations would be supplemented by concise written reports ...
  • Saving Time Bitches (Investment Banking & Private Equity) sweet, the Hamptons are sweeter. How can we save time to get out of the office faster? Putting together ... take and push back as much as possible. 4. Research Ask friends for their research logins / access. ... Getting good research always a pain 5. Slide templates I save down slide templates for generic internal ...
  • How much do you save?? hear how much others save, does it rise as income rises, or fall due to lifestyle creep? Saving ... Right now I'm thinking I will save about 15% of my gross income. I would be interested to ...
  • What 'Rules' have you set for yourself to save money? some ground rules for myself to help keep spending down. I want to save aggressively, and pay my ... invited by someone. (This doesn't happen frequently as I don't know too many people) No eating ... These rules are a bit malleable for dates. Anything else I could save on? to Sunday, March 18, 2018- ...
  • Where Do You Put Your Short-Term Savings? savings. I just finished my first year as an analyst and having some difficulty choosing how where to put ... As the title suggests, I'm curious to see where the monkeys of WSO are allocating their ... my disretionary savings. I started out saving very aggressively for retirement (think 15% to Roth and ...
  • AMA- I quit my job as a bond trader to fight MMA in Peru A few years ago, I quit my job as a corporate bond trader to become a professional MMA fighter in ... up full-time on a prop desk as an analyst and got right into the grind. After two years, I was about ... to get my own book to trade. But I had always missed my career as a college wrestler. One day I took ...
  • More suggestions...

Any pros willing to rescue this discussion? @mrcheese321 @nickhardgrave @aaronlee.84

I hope those threads give you a bit more insight.

Jul 5, 2018
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